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Relative Risk Aversion: Increasing or Decreasing?

Published online by Cambridge University Press:  06 April 2009

Philip E. Graves
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Extract

The existence of risk aversion in portfolio theory can be explained by positing a concave utility function of wealth. In some cases it is useful to construct some measure of risk aversion rather than merely accept its existence.

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Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 14 , Issue 2 , June 1979, pp. 205 - 214
Copyright
Copyright © School of Business Administration, University of Washington 1979

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References

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